Sell First or Buy First? Advice for DeSoto TX Homeowners
Sell First or Buy First? Advice for DeSoto TX Homeowners
Written by Steven J. Thomas, Refind Realty
Introduction
Hey, it’s Steven with Refind Realty. If you’re thinking about moving in DeSoto, you’ve probably asked yourself the big question: Should I sell my current home first, or buy my next one first? I help homeowners answer this every day. Here's what you need to know to make the best move.
Option 1: Selling First
Pros
Stronger Financing Position: When your current home sells first, you know exactly how much you can put toward your next purchase.
No Overlapping Mortgages: You’re not juggling two payments at once.
Faster Closings: Without a home sale contingency, your next offer is more attractive to sellers.
Cons
Tight Timing: If you don’t find your next home quickly, you may need temporary housing.
Market Pressure: The stress of having to buy fast can lead to rushed decisions.
Pro Tip from Steven:
If you sell first, line up short-term rental options early or negotiate a leaseback where you stay in your home briefly after closing.
Option 2: Buying First
Pros
No Rush to Move: You have time to find the right property, move at your pace, and transition smoothly.
You Stay in Control: You’re not depending on buyers or deadlines to secure your next home.
Cons
Financial Risk: If your current home takes longer to sell, you could face dual mortgage payments.
More Complex Financing: Without equity from your current home, your loan process may be more complicated.
Pro Tip from Steven:
If you’re buying first, consider a bridge loan or a HELOC to tap your current home’s equity without waiting to sell.
What Most DeSoto Sellers Do
In DeSoto, most homeowners sell first—especially when demand is high and inventory is limited. With proper planning, we can list your current home and time the close with your purchase.
That said, your strategy depends on your finances, timeline, and flexibility. I walk my clients through all the angles so nothing catches you off guard.
Key Questions I’ll Help You Answer
Can you qualify for both mortgages if needed?
How quickly are homes selling in your neighborhood?
Are homes available in the area where you want to buy?
How flexible is your move-in or move-out timeline?
Let’s Make a Plan
Whether you buy first or sell first, I can help you:
Estimate your current home’s market value
Find off-market listings before they hit the MLS
Time your transition with minimal stress
Download the Lone Star App here https://lonestarliving.hsidx.com/@sthomas
You're Always Home With Refind Realty!
FAQs
Q: Is it easier to buy or sell first in DeSoto?
A: It depends on your situation, but most homeowners in DeSoto choose to sell first to avoid carrying two mortgages.Q: What is a leaseback and how does it work?
A: A leaseback allows you to sell your home and temporarily rent it from the buyer, giving you time to buy your next home.Q: Can I make an offer on a home before selling mine?
A: Yes, but it may require a home sale contingency, which could weaken your offer in a competitive market.Q: What if my home doesn’t sell quickly?
A: I offer local market guidance and pricing strategies to help you sell faster, plus I can suggest backup financing if needed.Q: Are there financing options to help me buy first?
A: Yes, including bridge loans and home equity lines that use the value of your current home before it sells.
